ORANGE COUNTY DISTRICT ATTORNEY PRESS RELEASE
Case # 11CF2747
Date: January 20, 2016
“HARD MONEY” LENDER CONVICTED OF STEALING OVER $2.9 MILLION IN PONZI REAL ESTATE FRAUD SCHEME
WESTMINSTER, Calif. – A “hard money” lender was convicted today of embezzling over $3 million from investors in a Ponzi real estate-mortgage investment fraud scheme. Thomas Franklin Tarbutton, 56, Newport Beach, was found guilty by a jury of 18 felony counts of grand theft, nine felony counts of forgery, 11 felony counts of using an untrue statement in the purchase or sale of a security, and one felony count of the use of a device or scheme to defraud. Sentencing enhancements for loss of over $100,000, property loss over $3.2 million, and aggravated white collar crime of over $500,000 were found true. Tarbutton faces a maximum sentence of 34 years and four months in state prison at his sentencing on March 4, 2016, at 9:00 a.m. in Department W-9, West Justice Center, Westminster. Continue reading